We’ve been actively promoting our local hosting partners, who have listed their desks for rent in Cyprus, for just over 6 months now, and have had the opportunity to learn a lot from our guests, hosts and friends in the local business ecosystem.
Being as dedicated to transparency as we are, we’ve compiled the following case-study to explore two of the routes available to a team of 3 who’ve come up with a business idea and have decided to dive in and get working.
We will analyse the cost of the route traditionally taken by most new businesses in Cyprus, in setting up a new office as compared to using one of our hosts for the first 12 months of their operations.
| Business Expense | Assumptions Made | Own Office | Shared Workspace |
|---|---|---|---|
| 1 Year of Rent | Own Office: € 800 p/month + €1,000 deposit. | € 10,600 | € 5,760 |
| Desks & Chairs | 3 desks + chairs | € 1,000 | € 0 |
| Cleaning | Minimum cost for 1 year. | € 600 | € 0 |
| Internet | Business line. | € 600 | € 0 |
| Purchase of Printer | Office-grade printer. | € 200 | € 0 |
| Electricity | Own Office: € 100 p/m + € 200 deposit | € 1,200 | € 0 |
| Coffee | Own Office: minimum for 1 year | € 600 | € 0 |
| Water | Own Office: for 1 year + €100 deposit | € 400 | € 0 |
| Fridge | Own Office: Once off | € 150 | € 0 |
| Wiring/Connectivity | Own Office: Very basic setup | € 300 | € 0 |
| Security Costs | Own Office: Basic setup at €300 installation + €30 p/month | € 660 | € 0 |
| Total Costs: | € 16,310 | € 5,760 | |
| Total Saving: | € 10,550 |
||
As you can clearly see, by opting to start with renting desks in Cyprus, the company saved €10,550 in their first year of trading. That’s a great budget that could instead be used to grow the brand, conduct research or cover some of the living costs of the team.
Questions? Problems with the numbers? Hit us up on or drop a comment below.
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